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Investegate |Morgan Stanley Infr Announcements | Morgan Stanley Infr: Recommended Offer for Augean Plc

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UUBO Tax Update – Recovery Of Outstanding Taxes From Taxpayers - Tax


Introduction
The Federal Inland Revenue Service ( FIRS ) on
December 1, 2020, issued a public notice titled

Public Notice on the Recovery of Outstanding Taxes
from Taxpayers (the Notice ). In the
Notice, the FIRS disclosed that all waivers of penalties and
interest on outstanding taxes from desk examinations, audit
exercises, investigations or all other forms of tax assessment will
be concluded on December 31, 2020.
Waiver of Interests and Penalties for Outstanding Tax
Debts
The series of waivers of penalties and interest due on
outstanding taxes constituted part of the palliative measures
introduced by the FIRS to cushion the economic and financial losses
suffered by corporate taxpayers as a result of the Covid-19 ....

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